XPRESSRE-PRESENTMENTSM
 Service Overview


How Does XPRESSRE-PRESENTMENTSM  Work?

Merchant accepts checks in the normal course of business and deposits those paper checks with their local banks (1st Presentment).

  1. Returned items are forwarded to ECHO/XPRESSCHEX (either by Merchant’s bank (PREFERRED) or by Merchant).

  2. Upon arrival at ECHO/XPRESSCHEX, each check is evaluated and assigned to one of two collection groups.

  3. XPRESSRE-PRESENTMENTSM Collection Group – checks returned for either NSF or UCF and are eligible for automated XPRESSRE-PRESENTMENTSM collection.

  4. Regular Collection Group – checks that were returned Account Closed, Stop Payment, Fraud or any other reason that precludes an automated XPRESSRE-PRESENTMENTSM collection and are therefore eligible only for Regular Collections.

The XPRESSRE-PRESENTMENTSM Process

  1. When the check items are received by our processing center, they are digitally imaged and immediately presented electronically (2nd presentment) for clearing via the ACH (to maximize the likelihood of funds recovery from a timeliness standpoint).

  2. If the 2nd presentment clears the consumer’s account (not returned by consumer’s bank within 5 banking days of the 2nd presentment), an electronic debit transaction is originated to the consumer’s account for the state-allowed return fee.

  3. If the 2nd presentment is returned (2nd return) by the consumer’s bank, the check either remains in the XPRESSRE-PRESENTMENTSM Collection group (if eligible) or is placed in the Regular Collection group.

NOTE: Items are re-evaluated each time they are returned following an automated XPRESSRE-PRESENTMENTSM collection attempt, and if no longer XPRESSRE-PRESENTMENT’able (and Merchant participates in Regular Collection), re-assigned to the Regular Collection Group.

  1. For Merchants not participating in Regular Collection, non-XPRESSRE-PRESENTMENTSM’able items are either sent back to the Merchant or forwarded to a 3rd party collection service specified by the Merchant.

  2. When a 3rd presentment is necessary, ECHO/XPRESSCHEX will re-presentment the item to hit the consumer’s account on the following 1st or 16th day of the month.

  3. If the 3rd presentment clears the consumer’s account (not returned by consumer’s bank within 5 banking days of the 3rd presentment), the collection fee is charged to the consumer’s account via the ACH.

  4. If the 3rd presentment is returned (3rd Return) by the consumer’s bank, the transaction can no longer be processed in the XPRESSRE-PRESENTMENTSM Collections group and (if applicable for this merchant) is placed in the Regular Collection group.


Call for more information:1-800-291-3242.  
Or, send an e-mail message to sales@echo-inc.com

www.echo-inc.com

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